six central bank takes central stage. it is super thursday in london. in washington, janet yellen says a hike is on the cards. the incoming if information supports that expectation, then our statement indicates december would be a hostility. -- possibility. compositethe shanghai close to 20% above the august low. it is on the rebound from the $5 trillion stock. >> stockton reports an increase in profits, but says thousands of jobs will go. >> there will be cut. it is too early to show that. >> do you think it would be more in the range of hundreds or thousands? >> i would say more like a thousand. ♪ guy: welcome to countdown. and i'm: -- anna: it is just past 6:00 here in london. mark carney is here later on in the press conference. everyone waiting to see if he will change market expectations for where rates are in the u.k. and when they will get hikes. anna: 1% or 2%. that is how i like to phrase it. are loudas if there voices saying there could be more, maybe another joining the ranks of those trying to get an interest rate hike. more broadly, it is clues. guy: i think it is 1%. i

janet yellen's testimony before congress today, which is happening right now, throw any cold water on this rally? volkswagen is driven deeper into crisis. automaker revealing that the scandal is spreading to its gasoline cars as well. cord cutting fears unplugging media stocks as they we can strong earnings from time warner and cbs. can they reverse the tide? some headlines just crossing. services data and julie hyman has the latest. julie: this is coming in as estimated by economist. six in 9.1 is the measure on the s industry. 56.5 was the estimate from economists and 56.9 was the september reading. if you look at the interpretation of the data, we are seeing the second fastest pace in a decade for the services industry. 59.1 was the reading here. anything above 50 is expansion. we are well above that level now. all three major averages have turned lower. there are trading higher out of the gate good and little bit of volatility as the s&p 500 gets closer and closer want to get to its record high. yesterday's close was less than 1% away from the level. the nasdaq 100 x they did c

position of our company it is a noncash event. >> janet yellen says there's a live possibility of a december rate hike as the french bank has offset volatility around central bank policy. >> based on the monetary policies regarding the fed, ecb i remain overall positive for 2016 in particular for the europe and equity asset class and especially if, as we think, we see a further improvement of the economy. >> british oil and gas services firm amec loses a fifth of its value after slashing it's dividend and increasing it's cost cutting. >> good to have you with us today. let's kick off the program on break news on monetary policy since we have been listening in closely to janet yellen and her testimony on capitol hill yesterday. norway which surprised holding steady. so the norwegian central banks and key policy rate is unchanged or holding at three quarters of 1%. last time around they surprised the market by cutting interest rates. what are we looking at? strengthening back on the back of this and the central bank continues to say that their inflation expectations are in line with w

back on there. live long and prosper. >>> when we come back, janet yellen heads to capitol hill to testify on the fed's plans for bank regulation. we have four voting members of the fed speaking at some point today. fisher tonight. he has his work cut out for him. we'll hear what he has to say later on. look at the premarket this morning. facebook tonight, metlife, qualcomm, whole foods and more. the dow less than 400 points from an all-time closing high. opportunities aren't always obvious. sometimes they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. [announcer] during mattress price wars at sleep train, save up to $400 on beautyrest and posturepedic. get interest-free financing until 2018 on tempur-pedic. plus, helpful advice from the sleep experts. but mattress price wars is ending soon. >>> tesla rising despite a wider than third quarter loss. the electric carmaker shipped more vehicles than expected and raised quarter numbers.

janet yellen is sort of the anti-teddy roosevelt. speak softly and carry a big stick. she is opposite. she talks loudly. the fed will continue to talk tough. >> i keep saying this over and over again. i am a journalist. i am all for transparency. we take information and we translated. in some ways, i wonder if janet yellen, is this too much talking? how are we going to raise right now? canada is a mess. new york is a mess. we are barely growing. we have no inflation. >> you are in the 5050 category. >> they do talk a lot. i noticed that. i thought he had mastered that. the chairman. the champion of all time. trish: janet yellen. she learned her lesson. she said a little too much. not a lot of points. >> the fed is dominated by academics and government bureaucrats. janet yellen is the art type of that. he these are not folks that ran banks. unfortunately because of that, not a lot of action. >> i also worry that a lot of academics think that they can tinker with the economy. they can manipulate the economy. i think that this fed that has become increased and powerless. >> i concur. cen

we are watching at this hour. the market moves as janet yellen talks about a december rate hike and under the words live possibility. deke liquidity is the hot buzzword for investors and how will central-bank action change your portfolio. got a prescription for valeant damage control? of a philidor expansion before ties were severed. conducted a close witchhunt. a volkswagen emissions crisis could get worse as the automaker justls gas cars and not diesel had underreported co2 emissions. what it means for the brand and who knew what when. as we mentioned, fed chair janet yellen speaking about a december rate hike. that has the markets on the move. as we look at the intraday chart of the s&p, you can see stocks declining once she started to speak, now trading around the lows of the session. the real action was really in the two-year bond yields. kind most sensitive to any of rate hike increase from the fed. you can see a huge surge that she started speaking. i should also point out that the two year yield is now at the september meeting when many people were expecting a rate hike. jan

chair janet yellen should think twice before hiking rates in december. bob dylan. to improve my language skills, i've read all of your lyrics. you've read all of my lyrics? i can read 800 million pages per second. that's fast. my analysis shows your major themes are that time passes. and love fades. that sounds about right. i have never known love. maybe we should write a song together. i can sing. you can sing? do be bop. be bop do. do be do be do. do do do be do. >> good thursday morning. here are your headlines today. u.s. futures are pointing to a rebound after janet yellen suggests that a december rate hike is a possibility. toasts it's mobile advertising business as shares hit an all time high and tough times for craft. the group planning to cut around 6% of its work force. >> the odds of a december rate hike are as high as they have ever been after janet yellen said a move next month is still a live possibility. >> the economy will continue to grow at a pace that is sufficient to generate further improvements in the labor market and to return inflation to our 2% target ov

traded. janet yellen testifies before congress and we hear from a couple of other fed speakers and other venues. stanley fischer and bill dudley. investors will be looking for more hints as to whether we are getting an increase in december. the fed opening the door to that. let's take a look at currencies as well, based on that fed speculation. jobs report on friday, we should mention that the euro is falling today. it had been on a winning streak. there are some questions about mario draghi in his recent comments to italian media outlets that it's not certain we are going to see more quantitative easing. the euro has been falling. let's take a look at the 10 year. we've seen yields there at the highest in six weeks. 2.2%. they keep working higher as the day goes on. this is sort of part of that , people buyingo stocks and selling bonds today, pushing up those prices. david: julie hyman at the markets desk. let's get a check of the bloomberg first world knows -- news. ramy inocencio has the latest. ramy: the latest on the fatal russian plane crash from saturday. egypt says a joint

of fortune. that's what janet yellen said during a congressional hearing as stocks moved lower on that news. the dollar strengthened, hitting a new high against the euro. and oil down more than 3% on the session so far today. >> checking out that dollar index. it's nearly 98. something to keep an eye on as we have another batch of corporate earnings. drug price drama hitting capitol hill. taking a look at the rising cost for patients. we'll tell you which pharmaceutical companies are under fire. >> and who needs netflix? well, cbs is hinting at a new ad-free all-access streaming product. we're going to dig deeper into the real cost of cutting the cord. >> and then putting it all back together. >> we break news here and put it back together, too. >> facebook, whole foods, qualcomm all reporting facebook the only one in the green at the moment. we'll give you a preview over the next hour. >> let's begin, though, with tesla soaring today after last night's earnings that you reported. phil lebeau has details for us right now. >> we said yesterday it was going to be all about the guida

danielle the conviction -- to give janet yellen the conviction to hike the rate in december yeah, francesca, great to have you with us. >> aenough about enough? nice to be bad enough to stop them from hiking. that is our view. it is peculiar that we get down to one number. most important in the world. that is where we are. the market needs to be convened. wrong tonothing that detract the fed from hiking. jonathan: we see it is the most important jobs number ever. we might bounce around for an hour afterwards. is itbate that happens, more about where we are versus where we are in 2008? the rest of it is structural. that capacity has been eroded? >> there's been a recognition of external development. whether it is transitory or permanent. we take the view that most of the adjustment in china is a structural. the economy is going into a lower path. that is what is happening in the energy market, especially with the competition from btus. in the united states economy, what is emerging is a clear split the between service sectors which are benefiting from fiscal stimulus, and industri

help you find global opportunity. t. rowe price. invest with confidence. >> janet yellen, is highly political and she's not raising rates for a very specific reason, because obama told her not to. because he wants to be out playing golf in a year from now and he wants to be doing other things and he doesn't want to see a big bubble burst during his administration. stuart: well, you heard it right there. that's donald trump on the fed. bring in dan from chicago, quickly. dan, he says that janet yellen is all politics all the time. do you agree with him? >> you know, i can agree to an extent. the fed is supposed to be an independent agency, but it's a political appointee so there's got to be something going there. i don't know that i fully agree, but the air of fed over the recent past has been enhanced political leanings to it and going the way the government wants them to and it's disappointing. stuart: i think that janet yellen is financing the presidential's week policy. but that's my opinion. we're going up at the bell, a 20 point gain. remember, please, the dow is close to 18,00

expected to move downwards to 5%. chair janet yellen's latest outlook that she said this week that improving economic data will make a rate increase a possibility in next month's policy meeting. bloomberg will break down the numbers as soon as it is released. tighter security standards for international flights are expected from homeland security. are theu.s. measures latest fallout from the crash of the russian airliner in egypt. british tourists were stranded when british -- when britain suspended flights in and out of the area. after speculation that a bomb brought down the airliner. the airliner crash 23 minutes after taking off from sharm el sheikh. 15 people are dead and the small town is flooded after a dam broke in southeastern brazil. homes are buried in mud and dozens of people are missing. a project owned by two of the biggest mining companies. for the first time in a decade, americans appear to be smoking more. cigarette sales have been going up for the last several months. this is the first year since 2002 that sales volumes increased. among the reasons, savings on gas

don't either. in the context of janet yellen that must be looking at the possibility of an exit and raising interest rates like this . they kind of want to do it, but they are nervous of what the consequences might be -- as well they should. they are changing a monetary regime that has been in place for several years for a financial crisis. nonetheless, the term reducing the level of accommodation will be more common rather than monetary tightening. we're not talking about a tightening cycle yet. it is far too early. there's so much accommodation in the global monetary system lessening that is entirely appropriate. that is what they would like to -- my belief is that is what they're going to try to give. janet yellen already has. francine: let's get to central banker thatcentral is having a tough job. no region rates at a record low. the oil slump is pummeling growth. let's get to the governor. thank you for joining us on surveillance. give us a sense of the probability you'll have to cut rates in the next 12 months. it is my intent today not to comment on that question. we're not c

democratic congressman brad cheekn give his tongue in reason for why janet yellen should wait until the spring to raise rates. >> god's plan is that things rise in the spring. if you want to be good with the almighty, you might want to delay until may. ♪ alix: i am alix steel. "what'd you miss?" we're back with bill lee. janet yellen says that the door is open for a december rate hike . volatility matter more than the data? volatility is a proxy. janet yellen and the fed seem to be reacting to market conditions than data. joe: how do you quantify that? >> the fed should be following , and here is the bond market volatility index. this is a rolling regression of their coefficient, how they react overtime. it is more and more negative. they ease in the face of on market volatility. push you the market around. thatosses violating cardinal rule that every young economist has learned. that makes it more disturbing that the boss, ultimate insider, is violating these rules. bankste shouldn't central be influenced by markets? companies are influenced by it. they delay mergers, don't hire

, janet yellen. key fed officials speaking today , ahead of friday's pivotal jobs report. manus: welcome back. this is "the pulse." we are live on bloomberg tv, radio, streaming on bloomberg.com. japan post jumped at their debut in tokyo after investors flocked to the group's $12 billion ipo. the flotation is the biggest in the world this year, the largest in japan since 1987. for more, let's head over to tokyo where bloomberg's japan and korea managing editor is standing by. stockare quite phenomenal price moves. oversubscribed, but even oversubscribed, this is stellar performance today. >> exactly right. we knew that all three units were oversubscribed by between five and 15 times. we saw those prices rising in the market all last week. to see the kind of rises we saw today, we didn't even have trading for the first 30 minutes of the day because the offers were so lopsided. if you take all three market caps combined, ¥17.5 trillion, it would be worth about the same as cisco systems. this is a huge deal for japan post and a huge deal for japan itself. manus: i think when you look at so

markets got spooked. janet yellen says, december, is quote, a live possibility for a rate hike. the selloff forcing bulls to retreat. look at this. a slight comeback right now. we're watching it tick by tick. on to tesla, the electric carmaker still walking on water, jumping 10 and .57% even after missing estimates after the bell last night. elon musk is umdaunted saying they will meet production goals. but then he dropped a bomb shell on the established auto industry. wait until you hear about his him and his company closest to building a truly autonomous car. is the tesla talk bluster or is musk the king of the future. our expert panel battles it out. >>> pimp our ride. jeff flock live in las vegas with the auto show that puts the sparkle in specialty cars. jeff is about to show you the most tricked-out rides on the strip and which businesses are behind them. tricked out or ticked off? six days to go before our fox business republican presidential debate you can't miss, right? donald trump is sharpening his attacks as ben carson pulls closer to the top. >>> facebook just from repo

he is doing with that. donald trump is calling out janet yellen to be in cahoots with president obama. >> in my opinion janet yellen is highly political and not raising rates because obama told her not to. can protect capital long term. active management can tap global insights. active management can take calculated risks. active management can seek to outperform. because active investment management isn't reactive. it's active. that's the power of active management. the has unlimited access is thatto information,tion no matter where they are. the microsoft cloud gives our team the power to instantly deliver critical information to people, whenever they need it. here at accuweather, we get up to 10 billion data requests every day. the cloud allows us to scale up so we can handle that volume. we can help keep people safe; and to us that feels really good. ardo you have there? coverage you need? open enrollment ends december 7th. don't put it off 'til later. now's the time to get on a path that could be right for you... with unitedhealthcare medicare solutions. call today to learn about

janet yellen on capital hill. give us the latest metrics, productivity out today, we're looking forward to jobs tomorrow, the economy doing well? >> doing ok. the u.s. economy and the global economy got rattled by the market turmoil of late august and early september. the question of how long does it take for that negative impulse to fully percolate through the economy, i don't think it has fully percolated through the labor market yet. if you think about it, the september jobs report, the last one we saw, that was tallied as of september 12. that did not give hiring managers a whole lot of time to process what was happening and to understand that this was just a fleeting shock to the financial system and therefore they could respond accordingly. i think instead that had a bigger impact on the october numbers which is what we get tomorrow morning and so the last two months we have averaged roughly 140,000 jobs per month. i think that potentially it's going to get worse before it gets batter, so the good news is it does get batter. we're starting to see the green shoots that this

curve and rip the investments. getting back to the issue of janet yellen being political, if she raises rates she can say, no, i'm not political. they may raise rates in december a quart point, not much. she has given speeches about income inequalle ti right before the midterm aleks of 2014. janet yellen was a chairperson of clinton's council of economic advisers from 1977 to 1999. >> it's clear she's on the democrats' side. >> it's true. on the interquality issue she politicizes things. i disagree with trump on the issue of zero interest rates. they were in place in the bush administration. this has to do with a soft economy. you put it out yourself, mike. this is a weak recovery. we have an enormous job relative to other recoveries. >> i think we all agree on that. the fact is there are other ways to stimulate the economy in ways that don't kill savers. for example, lower tax rates. >> carrie and john didn't listen to trump. trump said the fed's involvement is what's screwing things up and keeping the market from normalizing. it's preventing us from a free market which is why w

think he knows any oh kind, by the way. accusing head chief janet yellen of risking the economy to save president obama. mike, right or wrong? >> trump is spot on with his comments about the fed. the fed's policies by keeping industry rates so long enabled obama to borrow unprecedented amount of money to redistribute it with his entitlement programs. it really hurt the economy. this is the worst recovery since the 1930s. we have the lowest percent of the labor force participating in the labor market that we have ever had. >> well, bruce, we have seen in history other fed chairs trying to help out the guy that appointed. i'm thinking of president nixon who hired arthur burns. he was alleged to have done that. is it happening now? >> no. i don't think so. this ranks up there with trump's birth certificate comments on the president. this is ridiculous. she's not raising rates because the economy is softer than people would like and inflation is low. now with the jobs report out this week, i think she'll probably raise rates through december just a little bit. trump will go back to whatever

nonsense. anthony: the idea that janet yellen was part of some political conspiracy was not -- sec. summers: you couldn' t possibly believe. >> sign-up for the "wall street week" newsletter, where we dive deeper into the most recent episodes with featured articles. go to wall street week.com and gary: we' re back with larry summers. anthony: let' s talk about harvard for a second, is it easier to deal with professors in harvard, or politicians in washington? sec. summers: i was more successful with politicians in washington. they are brilliant professors at harvard, but the way you be, a harvard professor is that there is some conventional wisdom in your field and you overturn it. you take a group of people whose defining professional success was an active iconoclasm. it tends to be hard to get them to work together and move forward. gary: what kind of teacher were you? sec. summers: the easiest one. i like people to say after the tape one of my classes they differently. preconceptions. my wife has always said that the large podium, small chair method is the worst way of imparting

today from mario draghi and janet yellen. >> figures smash estimates. the nation had to the best yearly job creation since 2010. alibaba double dribble and is of nearly $14 billion. investors, unprocessed. unin and pressed -- mpressed. guy: welcome to "countdown." anna: we have yearnings -- earnings to get through. guy: this is not sexist. let me make that crystal-clear. anna: it is a music reference. guy: the australian dollar, absolutely searching. -- surging. men at work, this is a reference to the numbers that came out from employment. anna: questions being raised, particularly in the last two months how we can rely on that data. let's get to the breaking news of germany. monthe the giants, as the , 2.4 6 billionns euros is the fourth quarter industrial business profit. the estimate was just 2.3 billion. , up to 3 big headline billion euro share buyback over the next 36 months. that was something analysts were looking for going into this. lets get to hans nichols. he has more of the back story. pathway -- ns: the last buyback was about 4 billion. dividendig headline, a increase, the

tanking. could it spell a tragic kingdom for disney that reports tomorrow. and janet yellen shocking the market by hinting at a december liftoff and a trade that could make you money if the fed does or doesn't move in december. >>> and biotech stocks falling offer a formal investigation into drug pricing at four big pharmaceutical companies. the senators leading that charm, republican suzanne collins of maine and democrat claire mccaskill of missouri will join us live from capitol hill. they will tell us just how far they intend to go. >>> but first to the biggest story of the night and that is facebook beating the top and bottom lines. the stock is popping in the after hours. crossing the $300 billion market cap level. joining apple, microsoft and alphabet with the only others of that size. we just spoke to coo cheryl sandberg a moment ago. what is the latest? >> the growth and ad revenue and user engagement shows the investment in ad formats in the build to measure return on investment paying off. and i know facebook doesn't provide guidance, here is what sandberg said when i asked abo

latest. >> janet yellen and the comments she made before congress, it did not have that much of an effect on stock. green.daq briefly turned utilities turned higher today. technology stocks also trading higher. the technology higher for energy stocks, really the big drag throughout the session. front, ichnology wanted to point out a few key moves today. microsoft in the last hour or so, the firm saying it is third quarter that it had taken a stake in microsoft. those shares higher. our that an amazon trading at records today. worth noting.nly facebook, i also want to check in on that stock. rivaled by little better than 1%. brendan: media shares are tumbling. julie: yes. it was like disney day that we had a few months ago when disney came out with earnings and it sent media stocks down sharply. it looks like time warner is to blame. up by 5%.e was a comfy's outlook for next year was below estimates. blaming it partially on currency and partially on investments into programming. there has been a lot of pressure on the media companies for content, quality content, to draw those eyeba

ftse 100. a big week, janet yellen speaking, cop21, hard to keep up. eu leaders agreed on a deal to stem the flow of refugees. they're keeping refugees in the country and bolstering border controls. meanwhile, russia has announced measures against turkey in response to the downing of one of its jets. down after stepped he was jailed indefinitely. amidst the country's largest corruption probe and renounced his post. estevez has denied the accusations made against him. jpmorgan will leave its bonus pool roughly unchanged since 2014. the buck the trend with european competitors such as deutsche bank which is preparing to cut. for more on that story, mark barton joins us now. look at what jpmorgan is doing and deutsche bank. if you're in the business of needing a job guess where the cv is going? on them.s put pressure this is not confirmed. leaving itschase is bonus pool roughly unchanged from 2014. it is telling the top managers about the big decision. month,m earlier this desks are preparing. the plan could change depending on their training performance in december. keephe push to at

francine: penultimate jobs report. while the data keep december alive for janet yellen. manus: the new guidance from governor carney. in an interview he tells the u.k. to prepare for a rate hike in 2016. francine: europe faces the reality of a slowdown. manus: standard chartered slumps. the stock takes a hit in hong kong as fitch downgrades the bank. francine: happy friday, everyone to "the pulse" live from london. i am francine lacqua. us.s: it is a big day for it could be a monumental day in terms of the jobs report. analysis as the case of whether or not janet yellen will pull the trigger in december could be made after today's jobs report. francine: bank of england governor mark carney weighed in on the debate. he spoke to us exclusively yesterday and expressed confidence in the fed. governor carney: the u.s. economy is performing quite well in a new normal sense. this is not the u.s. economy of precrisis years. what matters most to our timing is the reasons why u.s. monetary policy adjusts. so we would expect u.s. monetary policy to adjust because that economy is continuing to

. janet yellen and william dougly said this week that the u.s. was ready for high raise if the economic data justify them. we will see. they are expect today rise by 180,000 compared with september's sluggish number. you may remember that. 142,000. unemployment is expect today remain unchanged at 5.1%. make sure to tune in to mornings with maria at 8:00 a.m. eastern time for maria's jobs in america special job's report. >> cheryl: there we go. shanghai gaining almost 2%. high performance from shanghai. nikkei almost up 1%, kospi and korea down .41%. >> nicole: cac pulling back but the ftse squeezes a slight gain, up two and a half points. >> cheryl: mix bag this morning. not a lot of movement. nasdaq higher by 3. >> nicole: check out of key commodities. gold has been somewhat of a bear lately. >> cheryl: here is how the dollar is trading against key u.s. currencies, global currencies. mexican peso, that would be canada, of course, all of those down. >> nicole: there it it is 2.3%. >> cheryl: investor are looking results for med accompany, walt disney came better than expected of revenue

find the latest news on bloomberg.com. david: let's turn to janet yellen's latest remarks. the december rate hike is still on the table, but only if the economy stays on track. >> what the committee has been expecting is that the economy will continue to grow at a pace that is sufficient to generate further improvements in the labor market and to return inflation toward our 2% target over the medium-term. if the incoming information supports that expectation, then our statement indicates that december would be a life possibility. we have made no decision about it. david: investors were paying attention to two other fed officials today. bill dudley holding a press briefing in half an hour and sam fisher speaks in washington later tonight joining me is the ceo of one of the world's largest global asset managers, joe sullivan of legg mason. use at a rate hike will not be the main event. just you said a rate hike will not be the main event. e: we look forward to a rate hike, look forward to getting back to normalized rates. it will be good for our business come introduce some risk

paris, more than 9. in germany the dax up 70 points. >> nicole: ya net -- janet yellen, report on friday. >> cheryl: gold is down buck 30. so pretty much flat for u.s. markets and for commodities this morning. >> nicole: we are watching cyber monday sales today closely, that's after online sales did jump over the black friday weekend as more people did their holiday shopping on their mobile phones. consumers spent an estimated $4.4 billion on friday, that's according to adbe systems, black friday sales rising 14% setting stage for one busy day today. >> it is a great time to shop because deals are very deep. it's spread across four days now. >> nicole: they look for bargain on the stores and online and take the best from both and now that everybody has good internet. everybody has it from tablets to smartphone. >> cheryl: that's what's happening, i bet. checking economic calendar. nicole mentioned this, we are going to get one more job's report on friday before the federal reserve meet next month in considering to raising interest rates. she said janet yellen expect interest rates

janet yellen. we were under 14 yesterday, folks. today we were most of the day under 15. concerns and at least expectations are now starting to rise about exactly what the fed will do, what the time frame will be, and how the noise is going to be read through in terms of will it be december or do they push it out again and get it towards march? >> joseph. >> i know we have to cover it. i know it's relevant in that capacity, but in terms of a portfolio, i don't think we do very much with it. it matters where the cycle is going to be for interest rate hikes. it's going to be a one and done. december, march doesn't matter. the evidence is in the marketplace. the ten-year is 223. the utilities are higher zoosh you do still have a fair amount of negativity, doc. we heard yesterday icahn reiterating his own bearish view. this morning on "squawk box" mel cartizn i'm completely out of stocks. that's the narrative or backdrop in which we're watch this testimony today and watching the market itself react. >> yeah, and what janet yellen, i believe, is trying to do, judge, is get that number that

show nonfarm payrolls grew by 185,000. that is the consensus forecast. janet yellen said this week that data would make a rate increase a live possibility month's central-bank policy meeting -- at next month's central-bank policy meeting. therity is tighter after crash of the russian jet in egypt. thousands of british tourists are returning home today. no cause has been pinpointed. and in the next republican presidential fight, as christie and mike huckabee will be on the undercard. they will not be among the a candidates. they will be dropped into an earlier forum. did not qualify for either event. those of the latest headlines. you can get more on these and other breaking stories 24 hours a day at the new bloomberg.com. let's get a check on the markets. here is matt miller. matt: we are looking at little change on futures. you can see s&p futures and dow futures down slightly, nasdaq futures showing a tiny gain. we will get the big jobs number, and that will determine the direction of the market today. take a look at the bloomberg terminal, and you can see what futures are predicting

back? we'll tell you about that one. >> we certainly will. we start with fed chair janet yellen getting grilled on capitol hill on regulating the banks and also her comments on the economy. steve liesman, take it away with the highlights. >> she's just finishing up testimony now, mandy, on the last question of the hearing that gab at 10:00 a.m. this morning that was supposed to be aboutbac banks but ended up mak news on monetary policy. chair janet yellen told markets to wake up and get ready because december is a live possibility. >> what the committee has been expecting is that the economy will continue to grow at a pace that's sufficient to generate further improvements in the labor market and to return inflation to our 2% target over the medium term, and if the incoming information supports that expectation, then our statement indicates that december would be a live possibility, but importantly that we've made no decision about it. >> so she said no promises, but the market heard rate hike. two-year popped, the stocks fell, and the dollar strengthened. i want to play you one more pi

. janet yellen said yesterday she might support raising that number by a modest amount, just not a lot. onty: so he has that fight his hands and will continue with it. just on that vein about overall regulation and dodd-frank -- erik: it is inevitable because he has a front row seat. goldman sachs, merrill lynch, now cit. john thain always has views on what is right and what is wrong with regulation. >> one part of dodd-frank that i think was a mistake was evil or rule because proprietary -- was the folder rule. rule. volcker that part of the rule was unnecessary and does in fact restrict the bank possibility to make markets -- the bank's ability to make markets. that is not a good thing. erik: here is the thing -- he does not think it needed to be in dodd-frank. the problem is that in many institutions, including merrill lynch, which he took over as ceo , it was not properly managed. we could debate endlessly as to whether it did or did not cause the financial crisis or play a role. he does not think it did. betty: he does not believe it should be in the role of regulators -- it shoul

congressional committee, then chair janet yellen has given a signal to the fate of the rate. ms. yellen: what they have been expecting is that the economy will continue to grow at a pace that is sufficient to generate further it movements in the labor market and to return inflation to our 2% target over the medium-term, and if the incoming information supports that expectation, then our statement indicates that december would be a possibility, but importantly, that we have made no decision about it. reporter: although the hike is expected to be no more than a cautious hike, it would be the first of a series of raises, affecting markets the world over. the fed says it will continue analyzing data until its next policy meeting, from december 15 to december 16, which could end with a historic announcement. ben: and here is something that will not melt in your mouth but could melt your bank account, a diamond just auctioned off for 17 million euros. an american paid the exorbitant sum in geneva, and for that price, winston wants its own name to last that long. they have renamed the diamond the wi

first word desk i am courtney donohoe. erik: a big week for mario janet yellen. expectations of further stimulus from the ecb are high. the ecb moves on thursday. the same day janet yellen will testify in front of congress ahead of the meeting two weeks later. one of italy's biggest banks placed his bets on the fed's next move. >> in the usa, the fed could increase in which it is necessary to increase. year wehe end of the could see the rate increase in interest rates. here interest-rate futures show a 74% probability of a rate hike in december. the focus on your side of the pond is when the bank of england will follow suit. mark: it is a big question. earlier, governor carney said a low rate environment remains. the top growth data was released in the u.k.. us the top u.k. economist at deutsche bank. the low the previous quarters. it is an unbalanced economy. the domestic economy is strong, but the net trade drag was nothing to shout about, was it? >> i'm not sure you can read too much into the future. it was exceptionally negative from trade. i would say that consumer spending

all have to deal with the bumpiness that comes with it. >> janet yellen said yesterday there is a possibility the federal reserve will raise rates. what is your personal guess about when they will raise rates? what assumption are you going on? >> our expectations are the fed will do what is necessary to achieve their dual mandate. >> that is very brave. >> it is brave. it is also well-grounded. >> you must have some basics and aria about when you expect the fed to raise rates progress our expectation is we look at it that they will pursue a path of interest rate adjustments that are consistent with keeping price stability and the economy growing relative to employment. the u.s. economy is performing well in a new normal sense. this is on the u.s. economy precrisis years. that economy was ultimately unsustainable. it is performing reasonably well. we see them growing in the high twos over our forecast horizon. that is one of the reasons we see our economy continuing to progress. i am quite confident they will make the right decision at the right time. i made a point in the press co

have to deal with bumpinessg this -- that comes with it. >> janet yellen said yesterday there is a possibility the federal reserve will raise rates. what is your personal guess about when they will raise rates? what assumption are you going on? are the fedtations will do what is necessary to achieve their dual mandate. >> that is very brave. >> it is brave. is also well grounded. >> you must have some basics and aria about when you expect the fed to raise rates progress our expectation is we look at it that they will pursue a path of interest rate adjustments that are consistent with keeping price stability and the economy growing relative to employment. the u.s. economy is performing well in a new normal sense. this is on the u.s. economy precrisis years. that economy was ultimately unsustainable. is performing reasonably well. we see them growing in the high twos over our forecast horizon. that is one of the reasons we see our economy continuing to progress. i am quite confident they will make the right decision at the right time. i made a point in the press conference today. i t

,emember janet yellen has a little that board so, brad sherman, put your application in. investigators ignored his plea. shift.e hike bets as for the questions this morning mark bradshaw is ahead of global effort 16 which mentor than 950 billion euros. i will not ask you about congressman sherman did pick debate is there were two bank. others wanted a conviction of forecast that it will move back to target in the short term. >> it is not so much that whether that more confident inflation will move toward target, the effect of china and august has brought a lot of uncertainty. gives them confidence that they can continue with the game plan which is december liftoff at a gradual move and normalizing interest rates. fuse -- views make people nervous. do you share the view? >> i think the market is not pricing enough. the market price is in the order of to write hakes -- rate hikes and 16. what they most likely expect to happen is four hikes in 16 and five in 17. the market is just above 50-50 and they have not priced enough in terms of rate hike risk premium. we are short the very front e

and the u.s. back then, janet yellen was teaching at university. mario draghi was a senior civil servant in the italian finance ministry. europe's benchmark break was set by germany. that months, the fed boosted benchmark rates to 3.5%. the buddhist bank cut its discount rate by half a percentage point. cut itsundesbank discount rate by half a percentage point to it who better to discuss these issues then my guest. the founder and managing director. richard jones is in the house, from the bloomberg "first word" team. we heraard from you before. you are listening to draghi. nothing new but dovish. that is what we wanted. >> completely in line with what -- the next 12-18 months. we have seen signs of revival in europe. if you look at credit cycles and headwinds from fiscal policies waning, all of this is quite positive. yet, at the same time, the global environment is not very supportive. china, e.m., look at the impact china in europe. all of this put together means that if we have a rate rise in the u.s. in december, will it be a little bit too late for europe to actually enginee

draghi and not janet yellen, according to barclays is a, which says we have to respondents say ecb policy is the most important driver of the euro-dollar exchange, up from 30% in september. that is the bloomberg business flash. stephanie: thank you. the business of fashion but also a cultural movement. today in stores and online in nine minutes online. anxious shoppers have been camping out all night at the store just around the block from our office. this is the company's latest collaboration with a hot designer, select welcome h&m north american president. daniel, you have been with the company for 19 years and you started as a controller. when you came in today and saw the line around the block, looking like people were there for an iphone launch, what is so special about this? daniel: i think it is the whole thing of h&m to always inspire customers. we have done this for the 11:00 p.m. with a big design" -- collaboration on picking off the holiday season. moment,is hot at the luxury designer from europe and we are seeing talented young guy and in social media is active. he is a

because his and gradual. that is what janet yellen said in her speech that she once the markets to focus on. many will complain and argue that there shouldn't be one. at the argument you are really making is that rates should stay low, which they will, because it will still be just a 1% rate. fisher --ve ice vice-chairman fisher -- we just vice chair fisher speak. the policy rates will stay low to address the issues you worry about. we are going to go from when is the fed going to hike and then once they do to by how much? tony: it's kind of easy. there's a summary of economic projection the fed provides quarterly. press conferences for janet yellen every quarter. that's four times a year. to five withd up the conditions you mentioned. to go slower is not likely. you mentioned the calmness with which the bond market has been absorbing jobs data. when you make of that? tony: there will be a gradual to monetary policy. there are worries about china, global markets, etc. that has commenced markets that it will be gradual. looking at a contract three years out, it's confusing to the av

early earnings. all of that is better than the u.s.. so is that totally punting to the janet yellen? is very true, if you wander around the streets in london today, there is an awful lot going on that we can see. but the rest of the economy is only just picking up. there are other parts of the u.k. that aren't so strong and it is beginning to happen. there is also a much greater reliance on issues such as the and any change in interest rates would cause a very strong knock on effect. that said, there is no pressing need for the u.k. to have an interest rate hike now. so think carney is quite right to continue, as we see here, knock it on the end. scarlet: if the fed continues to hold off, is there risk in the boe going first before the fed? bill: i think it would be highly unlikely. but who knows where we will be in six months time? if the fed doesn't act soon, the effect on the markets will be increasingly negative. one of the things that people aren't talking about as much as they should be as the effect of global low interest rates. i think the fed is one of the first central bait --

line, but, of course, all eyes on janet yellen who is testifying on capitol hill and really seeming ready to raise rates at that december meeting. at least that's how the market is interpreting it. meanwhile, the dow is down 60 points. the s&p down nine. the nasdaq is down about 19 points. meanwhile, shares of etsy after reporting a loss of 9%. that stock down more than 7%. zillow also falling even though revenue topped estimates. the stock down about 6% largely because its wrout look for the fourth quarter came in weaker than expected. the light at the end of the tunnel was supposed to be when that trulia deal closed. we're not there yet. >> when we come back today, a really rough day for groupon. down about 30% on a disappointing fourth quarter outlook. ceo will join us live. plus, exclusive data looking at the changing face of television viewership and what it means for both broadcasters and advertisers. we'll get that. fed chair janet yellen still speaking on capitol hill. we'll get more highlights of what she's saying about december and a live meeting when "squawk on the street

happen and in my opinion janet yellen is highly political and she is not raising rates for a very specific reason because obama told her not to because he wants to be out playing golf in a year from now and he wants to be doing other things and doesn't want to see a big bubble burst during his administration. let's go straight to washington d.c. tracie potts joins us now. this has been a hot button contentious republican political issue. not only donald trump. we have heard this from rand paul and ted cruz. >> right. their argument is that the fed is artificially keeping these rates low when given the economy and the growth that we've seen it would make more sense at this point to raise rates. of course that could have some immediate implications for people trying to get loans. it could be quite a challenge for the middle class. people trying to buy cars and pay for college educations but donald trump and as you noted, some others, say this is where the economy is right now. the rates need to go up. the fed and fed chair janet yellen have said no and they're accusing them of being

wednesday fed chair janet yellen is testifying before the house financial services committee on capitol hill. the fed's regulatory activities. she's one of several speakers. we'll get earnings from facebook, time warner and 21st century fox on wednesday. thursday you have to look out for weekly jobless claims. q3 productivity and labor costs from disney and kraft heinz. friday, nonpharm payrolls for the month of october coming your way. let's talk through it. so much to talk through as we kick off the new week. let's go live to new york. we have the president at capital markets joining us. i hope you enjoyed your extra hour sleeping in thanks to daylight savings. what are you watching out for specifically? i'm guessing it's nfp on friday? >> mainly going to watch a little bit job numbers. what i would say is basically the fed, whatever the fed going to do in december. it's a waste of time for fund manager, somebody who's a long-term investor. if you think about what happened in market, how the market went down, everybody expecting the fed to raise rates. they were afraid. market went do

after somebody not running for president, that's janet yellen. take a listen. >> in my opinion janet yellen is highly political, and she is not raising rates for very specific reason, because palm told her not to because he wants out playing golf in a year from now. he wants to be doing other things. he doesn't want to see a big bush burst during his administration. david: forget about whether it is true or not, jessica, will this resonate with voters at all? >> he got in the name obama right after he said janet yellen. david: true. >> there is the association there. strategy worked well for donald trump for way longer than any of us thought. just bash, bash, bash. when janet yellen, especially with anxieties about the economy are so strong right now, why not -- david: fret, talk about the charge that donald trump charged. we know you and i the fed has been involved in years past with supporting particular presidents. we know it's happened. they never admit it. >> right. david: is it happening now? >> i don't think she is supporting obama. this comes naturally to her. you know, she l

got to tell you something, they absolutely crushed it. but janet yellen did crushing today, too. one of my favorite stock guys is coming out and we'll hash it out for you next. excellent looking below the surface, researching a hunch... and making a decision you are type e*. time for a change of menu. research and invest from any website. with e*trade's browser trading. e*trade. opportunity is everywhere. put under a microscopee , we can see all the bacteria that still exists. polident's unique micro clean formula works in just 3 minutes, killing 99.99% of odor causing bacteria. for a cleaner, fresher, brighter denture every day. . charles: welcome back, we've got important earnings alerts for you. first, facebook beating on the top and bottom line for the third quarter, absolutely blowing it away. you can see the stock much higher in the after-hours session. but unfortunately, whole foods is not so lucky. the health food grocer pioneer has missed again, really big, the stock down in the after-market, trying to explain it away, it's not going away. but tesla came into today soaring,

december, nicole mentioned stanley fisher will all be speaking, on thursday janet yellen will be speaking. >> nicole: this week will be a big week for consumer companies. 40 companies are due to report earnings, retailers reporting include macy's on wednesday and nordstroms, jc penny. jc penny expected a loss. >> cheryl: wall street bonuses are expect today fall this year because bonus are expected to drop 5-10% last year. private equity and m&a work. the biggest job of their bonus pay down 10-20%. bonuses is the the crux of what these guys do. >> nicole: that's right. u.s. targets soring claim to military health programs. led to higher effective tax rate and new york washington maglev train gets first federal funds. $28million for this project. a fraction of the overall cost. >> cheryl: nice to see that happening, that activity. coming up the weekend box office went old school. >> okay, snoopy, let's do this. are you serious. [laughter] >> cheryl: charlie brown makes a nice debut on the screen. wasn't enough to derail james bond specter. we will have all the numbers for you. the

yesterday after janet yellen said rate is a possibility, made comments before testifying before congress and she said conditions are pointing to a hike by the feds open market committee. >> what the committee has been expecting that the economy will continue to grow at a pace that's sufficient to generate further improvements in the labor market and to return inflation to our 2% target over the medium terms. >> nicole: these were yellen's public comments. we see jumping guessing that we might have up 56% from 35. >> cheryl: that's affecting markets in asia. we will see the story in u.s. markets. following stocks from you. ceo of exxon mobile painting a bleak picture. the jobs isn't very encouraging if you look at energy as a proxy as an overall economic. >> it's been a sluggish economy, we've never really found our legs. we have just been kind of sliding along at a very modest economic rate. >> cheryl: europe's economy has been sliding sideways while the rate in china continues to slow. here in the u.s. jobs being cut. 2600 jobs by closing plants in tus and canada. we will get a